An Illinois insurance producer who places insurance either directly or indirectly with an insurer with which the insurance producer does not have an agent contract must provide an Illinois insurance producer bond. The bond guarantees that the producer will make a full accounting of funds and payment to the person or company entitled to those funds which are received in the course of his or her insurance transactions, and comply with all the provisions of Section 500-30 of the Illinois Insurance Code. The Illinois producer surety bond must be in the amount of $2500 or five percent (5%) of the premiums brokered in the previous calendar year whichever is greater, not to exceed $50,000 total aggregate liability. The nation’s surety leader, Surety One, Inc., is a specialist in the bonding needs of the insurance and financial services sector. We will issue these surety bonds for ALL applicants in every state that requires bonding of insurance brokers and producers. We also offer superlative fidelity bond coverages to protect against losses due to employee dishonesty. Visit the surety leader at SuretyOne.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com, for an Illinois insurance producer bond application or information about any bond product.
